Mikwano Microfinance

submission by zrod87
Mikwano Microfinance

Website

:

www.embraceitafrica.org

Describe the creative youth microprojects that your nonprofit would fundraise for if you win.

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Embrace It Africa, Inc. (EIA) is a nonprofit organization, established in 2009. EIA's mission is to develop sustainable programs addressing issues of poverty, education, and HIV/AIDS in the Rakai district of southern Uganda. EIA enacts this mission through its microfinance institution, HIV/AIDS counseling program, and secondary school sponsorship program with a local orphanage.

The Mikwano Savings and Credit Institution was established in 2008, and has successfully distributed 36 loans to the Bethlehem community in southern Uganda. These loans have been used for crop farming and livestock farming projects, as well as other small business development.

In an effort to help students graduating from our sponsorship program use their newly acquired knowledge, Mikwano Microfinance would like to create a program exclusively dedicated to giving a means to these students, to develop a business idea of their own.

Explain how possibly gaining funding through the Give for Youth platform would better able you to complete these projects.

There are several types of projects that could be enacted with funding through Give For Youth. For example, Mikwano Microfinance would be able to both create business development classes for youth and also distribute loans with this funding.

An example case for this program would be the youth welding apprentices in the village of Bethlehem. By first receiving classes in business management, accounting, and strategic marketing, they would then use a loan to establish a welding and metal-working business outside the city of Kampala.

With this location near the capital of Uganda, the youth will be able to take advantage of the high demand for welding and metal-working that is present in this growing metropolis.

With a loan term of 1 year, we expect the youth to be able to pay back the loan, and also to have laid the foundations for a thriving business they can call their own.

Describe why your nonprofit is innovative and entrepreneurial.

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EIA's approach to microfinance is innovative in that it was developed in close collaboration with the local community. Spending a couple weeks determining the form and process of the microfinance institution, the community created the rules and regulations that dictate the institution.

EIA also recognizes the value of future generations in this area, which is why we have programming in place to take care of their educational needs. It is our goal to develop the microfinance institution in such a way that, upon graduating from secondary school, there will be a means to give these youth the opportunity to enact the skills and motivation gained from their educational experience.

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Thank you for all of your votes! We appreciate your support!

by pohlmanl
over 1 year ago | Reply

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Your microprojects funded on GiveforYouth.org
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Submission Began
Monday, January 07

Submission Ended
Friday, February 01
at 12:00 PM PST

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Voting Began
Monday, February 18

Voting Ended
Friday, March 01
at 12:00 PM PST

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Winner Announced
Friday, March 08

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